Use of tick charts

[theoryman]

When looking for detail I find there are two problems that occur.

Firstly, when the market is going nowhere and all the candles have small bodies; spotting a pattern is nigh on impossible.

Secondly, when a big bodied candle suddenly appears amongst "normal" sized ones; the detail hidden within it could be vital.

I have found that swapping from a time based setting to a tick based one helps in both cases.

The going nowhere over a long period gets put into a small number of candles and the big candle gets split up to reveal detail.

In EWT I don't think you can do that because of their time based rules.

However, as far as I can tell it could be a valid technique with NEWR since there is no emphasis placed on time i.e. it is base solely on counting waves as they form.

Any thoughts? Anyone else trying a similar approach?

cheers theory

[ruby]

Even Prechter emphasizes the importance of independent thinking - so why should there be a problem with your approach? Most wavers don't look at futures, arguing that the volume is too low. But there are many occasions during market hours when volume is just as low. Wouldn't it be consistent then to have a minimum volume requirement to even count a price move?

Are you in Europe, too?

[Steely Dan]

Theory,

Just thinking out loud here; I too have noticed how markets, especially futures markets, can mark time for ages before bursting into life. Perhaps for your RTB searching program you could use a statistical approach such as bollinger bands to instruct the search program to tailor it's sensitivity to changes in market behaviour and thereby look inside the large candle you mentioned.

Cheers
Dan